The latest insights into what has been happening in the property marketplace across Hamilton and surrounds.

July 2021

$775,000

Median Sale Price

 

307

Number Of Sales

 

462

Listings on the Market

 

30

Days on Market

 
 

With the end of the initial Level 4 lockdown now over a year ago, there are some interesting insights in the year-on-year statistics.

July sales of 307 were consistent with June (310) and last July (318), days to sell were also consistent at 30 versus 29 last month and 27 last July, however median price and the number of properties available to sell have seen significant changes. July’s $775,000 median is up $5,000 on June and $139,000 on last July. A major contributor to increasing prices, and to constrained sales volumes, is insufficient supply for the constant buyer demand. Available properties to sell are up slightly on June (36 more) however down 143, or 23.6%, on last July.Buyers hoping for price decreases over the coming year will be disappointed. The huge imbalance between low supply and fervent demand continues to be fuelled by buyers wanting to lock in low interest rates before they increase, job security and likely wage rises from a tight labour market, soaring construction costs and long delays deterring home-owners from building, rental shortages, and expected net population gains. Consequently, this is the best selling market we have seen.

If you or someone you know is contemplating selling in such a strong market, don’t delay and talk to one of our Harcourts consultants today about an up to date market appraisal and how to set the right strategy to achieve a premium sale price for your property.

Market Insights Infographic